Gladys Hargraves v Susan Eveston (No 2­) [2018] NSWSC 1922

Gladys Hargraves v Susan Eveston (No 2­) [2018] NSWSC 1922

The order made on 8 May 2018 expressly left post-judgment interest to be argued, so determining that issue did not vary the earlier orders. Section 101 permits the Court to order a rate other than the prescribed rate, and the deeds of loan expressly required interest at 10% per annum upon any judgment or order into which the covenant merged. Although the plaintiff's failure to raise the issue earlier was relevant, it did not disentitle the plaintiff because the defendant had put the plaintiff to proof on the contract and the issue would have been premature. The defendant should therefore be bound by the deeds and pay post-judgment interest at 10% per annum.

Jurisdiction
Australia
Judgment Date
03 December 2018
Procedural Posture
Contract Dispute Concerning Loans Formalised by Deeds / Determination of Post Judgment Interest After Judgment Entered on 8 May 2018
Outcome
Post-judgment interest ordered at 10% per annum on the judgment debt; defendant to pay costs.
Legal Topics
['loans Formalised by Deeds' 'interest on Judgment Debt' 'post Judgment Interest' 'discretion Under S 101 Civil Procedure Act 2005' 'costs']
['civil Law' 'contract Law' 'civil Procedure' 'costs'] ['loans Formalised by Deeds' 'interest on Judgment Debt' 'post Judgment Interest' 'discretion Under S 101 Civil Procedure Act 2005' 'costs']

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Procedural Posture

Contract Dispute Concerning Loans Formalised by Deeds / Determination of Post Judgment Interest After Judgment Entered on 8 May 2018

Legal Issues

  1. 1 ['What post-judgment interest rate should apply to the judgment debt entered on 8 May 2018.' 'Whether the deed provision specifying 10% per annum interest should govern post-judgment interest.' "Whether the plaintiff's failure to address post-judgment interest at the earlier hearing disentitled the plaintiff from seeking contractual interest."]

Ratio Decidendi

The order made on 8 May 2018 expressly left post-judgment interest to be argued, so determining that issue did not vary the earlier orders. Section 101 permits the Court to order a rate other than the prescribed rate, and the deeds of loan expressly required interest at 10% per annum upon any judgment or order into which the covenant merged. Although the plaintiff's failure to raise the issue earlier was relevant, it did not disentitle the plaintiff because the defendant had put the plaintiff to proof on the contract and the issue would have been premature. The defendant should therefore be bound by the deeds and pay post-judgment interest at 10% per annum.

Court Disposition

Post-judgment interest ordered at 10% per annum on the judgment debt; defendant to pay costs.

Orders

  • ['Interest on the judgment debt entered on 8 May 2018 in the sum of $2,420,761.05 will be at the rate of 10%, in accordance with the provision of s 101(2) Civil Procedure Act 2005.' 'Costs to be paid by the defendant.']